DigiPlus Interactive (PHS:PLUS) Beneish M-Score : -0.92 (As of Jun. 05, 2024)

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What is DigiPlus Interactive Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Warning Sign:

Beneish M-Score -0.92 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for DigiPlus Interactive's Beneish M-Score or its related term are showing as below:

PHS:PLUS' s Beneish M-Score Range Over the Past 10 Years
Min: -3.52 Med: -2.21 Max: -0.37
Current: -0.92

During the past 13 years, the highest Beneish M-Score of DigiPlus Interactive was -0.37. The lowest was -3.52. And the median was -2.21.

DigiPlus Interactive Beneish M-Score Historical Data

The historical data trend for DigiPlus Interactive's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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DigiPlus Interactive Beneish M-Score Chart

DigiPlus Interactive Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.22

-2.20

-2.32

-1.48

-1.21

DigiPlus Interactive Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-0.37	-1.11	-1.79	-1.21	-0.92

Competitive Comparison of DigiPlus Interactive's Beneish M-Score

For the Gambling subindustry, DigiPlus Interactive's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

DigiPlus Interactive's Beneish M-Score Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, DigiPlus Interactive's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where DigiPlus Interactive's Beneish M-Score falls into.

DigiPlus Interactive Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of DigiPlus Interactive for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.1304

0.528 * 0.7915

0.404 * 0.7179

0.892 * 3.02

0.115 * 1.9182

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.2095

4.679 * -0.011226

0.327 * 1.4886

-0.92

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was ₱4,480 Mil.
Revenue was 13632.961 + 11268.263 + 7010.199 + 4794.873 = ₱36,706 Mil.
Gross Profit was 13632.961 + 11268.263 + 7010.199 + 4786.953 = ₱36,698 Mil.
Total Current Assets was ₱10,002 Mil.
Total Assets was ₱31,787 Mil.
Property, Plant and Equipment(Net PPE) was ₱3,610 Mil.
Depreciation, Depletion and Amortization(DDA) was ₱533 Mil.
Selling, General, & Admin. Expense(SGA) was ₱6,245 Mil.
Total Current Liabilities was ₱8,328 Mil.
Long-Term Debt & Capital Lease Obligation was ₱1,671 Mil.
Net Income was 1995.458 + 1995.075 + 1007.235 + 651.041 = ₱5,649 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₱0 Mil.
Cash Flow from Operations was 305.548 + 1795.949 + 1952.622 + 1951.524 = ₱6,006 Mil.

Total Receivables was ₱1,312 Mil.
Revenue was 4177.716 + 3402.875 + 2877.77 + 1695.931 = ₱12,154 Mil.
Gross Profit was 1470.915 + 3836.405 + 2651.249 + 1659.01 = ₱9,618 Mil.
Total Current Assets was ₱3,235 Mil.
Total Assets was ₱21,393 Mil.
Property, Plant and Equipment(Net PPE) was ₱1,119 Mil.
Depreciation, Depletion and Amortization(DDA) was ₱367 Mil.
Selling, General, & Admin. Expense(SGA) was ₱1,710 Mil.
Total Current Liabilities was ₱4,150 Mil.
Long-Term Debt & Capital Lease Obligation was ₱370 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(4480.474 / 36706.296)	/	(1312.435 / 12154.292)
	=	0.122063	/	0.107981
	=	1.1304

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(9617.579 / 12154.292)	/	(36698.376 / 36706.296)
	=	0.791291	/	0.999784
	=	0.7915

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (10002.06 + 3609.639) / 31787.169)	/	(1 - (3235.134 + 1118.772) / 21392.609)
	=	0.571786	/	0.796476
	=	0.7179

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	36706.296	/	12154.292
	=	3.02

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(366.753 / (366.753 + 1118.772))	/	(533.202 / (533.202 + 3609.639))
	=	0.246884	/	0.128704
	=	1.9182

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(6244.664 / 36706.296)	/	(1709.633 / 12154.292)
	=	0.170125	/	0.140661
	=	1.2095

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((1670.969 + 8327.783) / 31787.169)	/	((369.952 + 4150.444) / 21392.609)
	=	0.314553	/	0.211306
	=	1.4886

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(5648.809 - 0	-	6005.643)	/	31787.169
	=	-0.011226

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

DigiPlus Interactive has a M-score of -0.92 signals that the company is likely to be a manipulator.

DigiPlus Interactive Beneish M-Score Related Terms

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DigiPlus Interactive (PHS:PLUS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » DigiPlus Interactive Corp (PHS:PLUS) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Exchange Road, Ortigas Center, 26th Floor, West Tower, PSE Center, Barangay San Antonio, Pasig City, PHL, 1605

Website

https://www.lrwc.com.ph

DigiPlus Interactive Corp, formerly Leisure & Resorts World Corp is engaged in the business of leisure. The company operates in four segments: The network and license segment's primary activity is licensing of operators engaged in interactive gaming, as well as the establishment and setup of all the gaming infrastructures required in connection with the development, operation and conduct of internet server, telecommunication network, gaming enterprises, and other systems facilities. The casino group is involved in hotel operation and casino marketing, junket operations, and arcade leasing. The retail segment consists of venues providing amusements and recreation facilities. The property segment includes integrated resort operators and investment.